Wall Street's sell-off intensified, with the S&P 500 dropping by 1.8% and the Dow Jones Industrial Average plummeting 500 points. This was amidst economic uncertainty and tariffs imposed by President Donald Trump.
Although President Trump granted a one-month reprieve on tariffs from Mexico, other tariffs are still scheduled to come into effect on April 2. This has led to turmoil for U.S. businesses and raised inflation concerns for households.
U.S. businesses are grappling with chaos due to the uncertainty, which is affecting consumer confidence and amplifying inflation worries stemming from the tariffs.
Meanwhile, in overseas markets, European indexes experienced a boost following the European Central Bank's decision to lower interest rates, in stark contrast to the declines witnessed in the U.S. market.